Turkish co to invest in infrastructure
M Azizur Rahman
A Turkish private asset management firm RHEA has planned to invest in infrastructure including power plants through public private partnership (PPP) in the country, its officials said.
A high-powered delegation of the Istanbul-based company is now in the city for talks with the government.
The RHEA team led by its head of asset management Memet Yazici discussed the company’s prospective investment sectors with the Communication Minister Syed Abul Hossain and State Minister for Power and Energy Muhammad Enamul Haque.
Power plants, roads and bridges, ports development, major airport construction and urban transport facilities like rails and light rails are the sectors the Turkish company is planning to invest in Bangladesh, a power ministry official said.
The company also inquired about the Bangladesh’s offshore oil and gas prospects in the Bay of Bengal.
“The (Turkish) firm is interested to materialise its investment plan within the shortest possible time,” the official said.
The Turkish investment plan comes at a time when the government has moved to implement several infrastructure projects including flyovers, bridges, elevated expressway under PPP.
The government is seeking foreign investment to implement these cash-intensive projects.
“RHEA is interested to initiate business in Bangladesh as part of its business expansion plan in new markets,” managing director of the company’s local representative Syed Salman Masud told the FE.
He said the company intends to do business with the government in Bangladesh as it seeks “confirmation over return of its investment.”
RHEA is a reputed firm with extensive global investment management experience.
Apart from its strong presence in Turkey, the RHEA has offices in Dubai, UAE; Bucharest, Romania; London, UK to conduct global operations.
Earlier in February this year RHEA offered Bangladesh a US$1.0 billion “conditional soft loan” to win infrastructure deals.
It also pledged a $5 million donation for health care and educational projects in Bangladesh if the government awards work orders to Turkish builders for building flyovers and bridges.
Although the government is yet to come up with any decision, a senior official said the Finance Ministry is in favour of securing the Turkish conditional loan.